FX.co ★ KKR, PSP Investments To Buy Minority Stake In AEP's Ohio And Indiana & Michigan Transmission Cos.

An investment fund managed by KKR, in collaboration with the Public Sector Pension Investment Board—one of Canada's most prominent pension investors—has announced an agreement to acquire a 19.9% stake in American Electric Power's (AEP) transmission companies located in Ohio, Indiana, and Michigan for $2.82 billion.

KKR and the Public Sector Pension Investment Board, known as PSP Investments, have established an equal partnership to facilitate this acquisition.

Following the completion of the transaction, AEP will continue to be the majority owner and operator of these transmission assets. KKR is financing this investment through its core infrastructure strategy.